If you are looking for an academic definition of ‘wealth’, just do an online search. This is how Wikipedia defines it:
“Wealth is an abundance of valuable material possessions or resources. The word is derived from the old English ‘wela’, which is from an Indo-European word stem. An individual, community, region or country that has an abundance of such possessions or resources is called wealthy”.
Unfortunately this definition creates the impression that being wealthy simply means ‘having a lot of things’, and it is my standpoint that such a view is not altogether correct. Wealth is a rather complex issue, and consequently people encounter many challenges during the process of wealth creation.
- Firstly, we have to understand that wealth is a good thing. There is an erroneous belief, at least among some people, that having lots of money is not a good thing. The belief that poverty is virtuous has, unfortunately, strong religious underpinnings and whereas I have no intention of belittling anyone’s dearly held beliefs, this is one that needs to go ‘out the back door’ if you are serious about becoming wealthy. Always remember that money is neutral; it just ‘amplifies’ things. It allows generous people to give more, and misers to hoard more.
- The creation of wealth requires dedication. Although people accasionally win the Saturday Lotto or inherit large sums of money, this instant wealth often disappears as quickly as it is gained, due to a lack of financial skills. Wealth is, in essence, a yardstick of how much value we add to other people’s lives. And this does not happen by itself.
- Wealth involves a specific mindset. Beliefs about wealth on the ‘inside’ (in the mind) manifest themselves in the physical world. If you ever, just for a fleeting moment, think about ‘them’ (other people) as being wealthy, and not of yourself in this way, then you have uncovered one of the reasons why you are not wealthy yet. You are what you think. You need to see yourself as wealthy, even if you are not (yet). It is said that true entrepreneurs work harder on their thoughts than on their marketing skills!
- Wealth is a relative concept. I’m sure Donald trump would be appalled by the prospect of having only a few million dollars in the bank. However, without verifying the numbers I can almost guarantee you that the majority of the world population is worse off than you and I and would perceive an individual with a few thousand dollars in the bank as ‘wealthy’. Which brings me to the next point.
- Truly wealthy people are invariably grateful. The more grateful we are for what we already have, the more we receive. This is simply a law of the universe; just like gravity.
- Wealth is multi-faceted. It does not only revolve around money. It also involves one’s career, relationships, family life, mental state, education, physical fitness, health, spiritual life, and social life. A really wealthy person has so much more than just money. James Arthur Ray coined the phrase ‘harmonic wealth’ in this regard.
- We cannot give away what we don’t have. We cannot love others if we don’t love ourselves, and we cannot assist others financially if we are broke. Poor people are much more obsessed with money than rich people! If I could have my life over again, with hindsight, I would bust my gut in order to attain an abundance of residual income in my early twenties so that I could focus on more important things, instead of slaving away as a salary-earner for so many years.
- Becoming wealthy needs constant education. It requires wisdom, understanding, and an extensive knowledge of the means through which we choose to acquire material wealth (e.g. online marketing), as well as ways of investing that money. And this requires diligent self-evaluation, training and life-long learning. The activity of wealth-related self-education should be as much a part of one’s daily regimen as is eating and sleeping. Unfortunately wealth creation is not part of any syllabus in traditional education.
And so, my friend, I wish you wealth, health, and much happiness in the pursuit of your personal wealth. Start moving in that direction!
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